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Crudeoilwti

Crude oil 4h time frame formed an H&S. looking for bearish dip.Crude oil 4h time frame. formed an H&S. price consolidating at right shoulder forming a bull flag pattern, wait for breakout to downside and put stop above right shoulder targeting 53.92, 51.85. Reason: 1. confluence is that price reached at 50% and 61% fib level from head to right shoulder impulsive extension. 2. confluencce 4h time frame RSI is at extrem overbouhgt zone and 2h time frame RSI making bearish divergence.
TVC:USOIL
by Ilikethehell
2
WTI CRUDE OIL (WEEKLY)Chart Advise has been recommending in its advisory for a a CRUDE OIL buy and the view has been fantastic. The steady upward traction seen on the charts since the past few days once again reiterates the point that the prices always speaks ahead of the move. I have found Pitchfork to be quite an important weapon against the trend. It has helped me several times to forecast in the right direction. We had mentioned in the GAME CHANGERS(Money Control) newsletter about the CRUDEOIL reaching 3350 on MCX and on the Dollar terms around 53. The potential looks to be much more as the possibility of heading towards 56 is on the cards . The Weekly chart looks ominous and the potential is gaining momentum as the positive DI lines are beginning to head higher. The strong trended action to the upside will now be able to stretch further an reach towards the upper channel. Positive vibes continue to flow and the steady higher lows continue to indicate a run to the upside.Look to initiate long at current levels or on dips towards 50 as possibility of heading upwards is very much on the cards.
FX_IDC:USDWTILong
by Raja_Chart_Advise
Crude oil - In depth Elliott wave analysisGreetings oil traders, As you can see from the chart which is in weekly time frame, the move (INTERIM rally) is just a correction for the down trend; say for the super cycle wave (Y) Therefore, we sure say that the current move is merely a retracement for the Super cycle wave (Y) and the initial move (X) has been stagnated for some time at the areas of 23.6% and been resuming its move higher now. the further resistance are offered by two factors - trend line (LONG TERM) & the Fibonacci Resistance as it is given in the chart, The wave (X) in super cycle degree has been subdivided into triple three correction, within which wave W & X are completed and after which wave Y is currently being traded in cycle degree. For folks who find it difficult to follow, check our website where we have a shot a video presentation explaining the whole process from 2008 to till date - a really detailed analysis for free, check it out here www.mytradingcourses.com P.S You are welcome to seek any clarification on this & any of our past analysis Thank you
NYMEX:CL1!Long
by DineshKrishna
1